How to Apply Wearable Technology in Your BusinessNovember 29, 2016
Smartwatches are gaining popularity with each passing day, and for businesses, that means new opportunities.
You’ve likely gotten pretty attached to your smartwatch or Fitbit, right? Or if you don’t yet own one, I bet I can guess what’s on your birthday list for this year. Wearable technology has gained momentum with each passing day, and for businesses...that means opportunity for improved operations.
Are a lot of businesses embracing wearable tech?
Though the technology has developed very quickly, a good amount of businesses still remain hesitant to integrate wearables in their everyday operations. Return on investment is always the main concern, and some businesses cannot see the ROI in wearables, at least at this point.
How can wearable technology be applied in business?
There are several business advantages that “wearables” provide, namely:
- Increased productivity- Wearables can streamline normal business operations and improve efficiency. Communication is easier with wearables because they have the capability to alert managers that work is finished.
- Heightened employee safety- Wearables have safety capabilities, too. For example, they are able to monitor how your body is reacting to your surroundings and work conditions (esp. relevant for manufacturing and construction industries).
- Health and wellness- Smartwatches and Fitbits are equipped with fitness trackers and incentive programs, which encourages healthier workplace lifestyles (to eventually reduce health care costs).
- Improved consumer relations- Businesses have cited wearable technology as a successful way to target advertising and make payments easier for consumers. In the retail world, where consumer relations are key, wireless headsets, wearable smartwatches (with wrist displays), and tech lanyards have improved business significantly. Store employees can now look up information as they need it without having to visit a stationary terminal or abandon the customer.
Why are businesses holding back?
Security concerns- There are concerns that using wearables heightens a business’ network security. According to experts, most wearables have a lack of encryption, meaning it is easier for hackers to intercept data.
Expense- Wearables are still rather costly, and businesses might not have the funds to provide smart watches, for example, to all employees.
Accuracy- According to some wearable users, the devices fail to perform certain actions accurately. Users have found that certain devices do not come up with accurate readings for steps taken, or accurate heart monitor readings.
Though wearable technology has many applications in personal life, will it make a difference in the business world? Only time will tell.